Tashkent, Uzbekistan (UzDaily.com) — The Center for Analysis of Economic Reforms and Communication of the Republic of Azerbaijan (CAERC), in collaboration with the Secretariat of the Organization of Turkic States (OTS), has presented the second edition of the annual analytical publication “Turkic Economies – 2024.” The report was prepared within the framework of the Turkic Network of Economic Policy Research Centers (ERCNET) and focuses on strengthening transport and energy connectivity in the region.

More than 35 leading experts and research institutions from Azerbaijan, Uzbekistan, Kazakhstan, Kyrgyzstan, Turkmenistan, Türkiye, and Hungary contributed to the report. Member countries presented national overviews on macroeconomic development, investment trends, and sectoral priorities. The document includes comparative analysis supported by statistics on the economy, transport, and energy.

Uzbekistan's Contribution

A significant contribution to the report was made by the Center for Economic Research and Reforms of Uzbekistan (CERR). Within the study, CERR experts prepared an analytical section on Uzbekistan’s economic dynamics and growth structure, covering macroeconomic indicators, investment trends, and institutional reforms. The analysis reflects Uzbekistan’s growing role as a driver of sustainable development in the OTS region.

Uzbekistan as a Driver of Sustainable Growth in the OTS

The publication places special emphasis on Uzbekistan, whose share in the total GDP of the OTS countries reached 5.5% in 2024, up from $49.8 billion in 2010 to $115 billion. The GDP structure remains diversified, with agriculture playing a significant role, accounting for approximately 18.3% of the economy.

Analysts highlight a stable growth trajectory driven by increases in private consumption, investment, remittances, and activity in construction, retail trade, and the mining sector.

In 2024, Uzbekistan recorded a decrease in inflation to 9.8%, maintained stable employment, and strengthened lending to the economy. The budget deficit stood at -3.3% of GDP, which is comparable to the levels observed in other OTS countries.

Foreign direct investment in Uzbekistan amounted to $11.9 billion in 2024, of which $2.3 billion came from OTS member states.

Transport Infrastructure and Logistics

Uzbekistan has the highest share of national roads within the OTS (96%), with 98% of them paved, ensuring key transport routes. However, road density remains relatively low at 1,300 km per 1 million people, limiting accessibility in rural areas and increasing logistics costs.

The railway network has expanded by 2.9% from 2018 to 2022, though overall density remains moderate. Passenger rail traffic in 2022 was still 19% below pre-pandemic levels. In the Logistics Performance Index (LPI) 2023, Uzbekistan ranked 88th. In the IATA Air Connectivity Index for 2022, the country ranked 78th, highlighting the need for further development in the aviation sector.

Energy and Sustainability

Energy consumption in Uzbekistan totaled 47.6 million tons of oil equivalent in 2023. The country remains energy self-sufficient due to its substantial natural gas reserves (1.8 trillion cubic meters). Renewable energy accounted for 9% of electricity generation. Nonetheless, electricity prices remain low at 2.5 cents per kWh.

Promising developments in regional energy cooperation are underway, including seasonal electricity exchanges with Kyrgyzstan, transit through Uzbekistan, and joint projects for the construction of hydropower and solar power plants.

Coordination and Strategic Significance

The report underscores the importance of developing the Middle Corridor, efforts to digitalize transport processes (such as the implementation of the e-Permit system), and agreements on customs cooperation. The OTS is increasingly becoming a key platform for institutional convergence, strategy alignment, and regional infrastructure development.

This publication serves as a reference for governments, researchers, and international partners interested in the sustainable development of the Turkic region and willing to invest in long-term projects aimed at strengthening economic interconnectivity and promoting diversified growth.